Tag: Competition

On July 17, 2023, the Federal Trade Commission sued to block IQVIA Holdings Inc. (IQVIA) from acquiring Propel Media, Inc. (PMI), alleging in an administrative complaint that the proposed acquisition would give IQVIA a market- leading position in programmatic advertising for health care products, namely prescription drugs, to doctors and other health care professionals. The Commission also authorized FTC staff to seek a temporary restraining order and preliminary injunction in federal district court to prevent IQVIA from consummating its acquisition of PMI, pending the agency’s administrative proceeding.

After a nearly two-week evidentiary hearing and closing arguments in late November and December 2023, U.S. District Court Judge Edgardo Ramos issued an order granting the FTC’s motion for preliminary injunction on December 29, 2023.

The Federal Trade Commission and a group of seven state enforcers filed a complaint in federal district court against Vyera Pharmaceuticals, LLC, alleging an elaborate anticompetitive scheme to preserve a monopoly for the life-saving drug, Daraprim. The Commission vote to issue the complaint was 5-0. The complaint was filed on Jan. 27, 2020, in the U.S. District Court for the Southern District of New York. In a Jan. 14, 2022 ruling, U.S. District Court Judge Denise Cote found Shkreli’s conduct “egregious, deliberate, repetitive, long-running, and ultimately dangerous.” Judge Cote banned Shkreli for life from the pharmaceutical industry.

On January 23, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York’s ruling.